LIVING BELOW THE LINE: ECONOMIC INSECURITY AMONG NEW YORK S ELDERS

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1 LIVING BELOW THE LINE: ECONOMIC INSECURITY AMONG NEW YORK S ELDERS Jessica Horning Shawn McMahon Fall 2015

2 Wider Opportunities for Women (WOW) has promoted empowerment, equity and economic security across the lifespan since Through advocacy, research, training and technical assistance, WOW advances equal education and employment opportunities, non-traditional occupations for women, economic empowerment and secure retirement. WOW s economic security projects work in Washington, DC and with partners across the country to improve the lives of workers, families and seniors. WOW s Elder Economic Security Initiative improves policy and programs by defining security and advocating for policies that help seniors avoid poverty and the shadow of poverty. The Initiative is supported by the Elder Economic Security Standard Index (Elder Index), an innovative measure of the income that older adults need to meet their basic needs and age in place with dignity. New York StateWide Senior Action Council (Statewide) is a grassroots membership organization made up of individual senior citizens and senior citizen clubs from all parts of New York State. StateWide was organized in 1972 from War on Poverty funds with the goal of developing a statewide organization of older New Yorkers who could advocate for their interests and needs regarding services, programs and policies effecting older persons. StateWide s unique history and role has been to focus on the needs of the low-income and minority seniors. With other advocacy organizations and service providers across the nation, StateWide has helped build a very successful and cost-effective aging network over the past three decades. This has reduced the number of senior citizens living in poverty by over 50%, has allowed seniors to remain in their communities, has dramatically increased quality of life, and has avoided costly institutionalization as the only alternative for long-term care. Copyright Wider Opportunities for Women, The Elder Economic Security Standard TM Index is calculated by the Gerontology Institute at the University of Massachusetts Boston. WOW s Elder Initiative and Living Below the Line are funded by The Retirement Research Foundation of Chicago.

3 N ew York seniors face an array of economic security challenges rising food, health care and housing costs, long-term care needs, a soft labor market and others. To better capture and understand the challenges faced by New York s seniors, their families, and state and local governments, WOW has calculated Elder Economic Insecurity Rates (EEIRs) the proportion of fully retired seniors whose incomes fall short of the Elder Economic Security Standard TM Index (Elder Index), a senior-specific basic needs budget. The statewide EEIR for New York senior households is 58%. More than half of New York households comprised of either one or two retired seniors lack the incomes that would provide economic security and insulate them against poverty as they age. 1 Seniors with incomes below the local Elder Index are likely to make difficult spending choices, to go without one or more basic need, and to have trouble remaining in their homes as they age or their health declines. While insecurity or the threat of insecurity affects elders of all backgrounds, EEIRs vary greatly by location, household type, housing type, race and gender. K E Y F I N D I N G S Fifty-eight percent of New York s elder-only retiree households live in economic insecurity. New York elders who live alone are much more likely than elder couples to live in insecurity. The EEIR is 67% for single elder households and 39% for elder couple households. EEIRs are highest for elder renters. More than 80% of New York elder renter households live in insecurity; 54% of elder homeowners with mortgages and 41% of elder homeowners without mortgages live in insecurity. Elder women experience high insecurity rates. Fifty-eight percent of New York s senior women lack security incomes. Seventy percent of single elder women and 58% of single elder men living alone lack security incomes. In 2013, retired men s median annual personal income was $10,023 higher than retired women s ($25,315 versus $15,292). EEIRs are high in every area of New York. The overall insecurity rate is highest, at 77%, in the Bronx and Kings County (Brooklyn) and lowest in Seneca County (39%). New York City s boroughs and suburbs have the highest EEIRs, and the state s lowest EEIRs are largely clustered in the center of the state. Figure 1: Economic Security and Insecurity Rates of New York Elder Households, % Elder Index 58% Source: Author's calculations using US Census Bureau American Community Survey 3-Year PUMS

4 DEFINING ECONOMIC SECURITY FOR SENIORS: THE ELDER ECONOMIC SECURITY STANDARD INDEX Poverty rates alert us to destitution, and changes in poverty rates suggest change in the economy and indicate how well policy is, or is not, helping the neediest among us. But the federal poverty guidelines are an antiquated, one-size-fits-all measure that tells us little about those living in poverty and nothing about the thousands of New York seniors whose incomes exceed the poverty guidelines but do not allow them to escape the shadow of poverty. Data and research based on the poverty guidelines fail to capture the experiences of seniors who have or are likely to have trouble remaining in their homes as health declines and/or financial resources dwindle. The Elder Economic Security Standard Index is a measure of the income retired adults require to meet basic monthly expenses and age in place in their communities. The Elder Index defines economic security as monthly or annual income needed to meet these basic expenses without borrowing, relying on gifts from family and friends, or relying on public assistance programs. 2 Elder Index expenses include housing, food, minimal transportation, health care, and basic household items such as clothing, a telephone and cleaning supplies. Because the Elder Index is a basic budget, it includes no frills or comforts such as recreational travel, restaurant meals, household items or electronics, gifts or entertainment of any kind. Variations in households and local costs create a broad range of retirement income requirements: The 2014 New York Elder Index s greatest annual value is $59,760, for homeowner couples paying a typical mortgage in Westchester County. The Elder Index s smallest annual value is $17,904, for single homeowners without mortgages in Cattaraugus County (Appendix A). Table 1: The Elder Economic Security Standard Index for New York, 2013 Elder Person Elder Couple Owner w/o Owner w/ Owner w/o Owner w/ Expenses Renter Renter Housing $748 $1,115 $1,853 $748 $1,115 $1,853 Food $252 $252 $252 $463 $463 $463 Transportation $213 $213 $213 $331 $331 $331 Health Care $398 $398 $398 $796 $796 $796 Miscellaneous $322 $322 $322 $468 $468 $468 Elder Index Per Month $1,933 $2,300 $3,038 $2,806 $3,173 $3,911 Elder Index Per Year $23,196 $27,600 $36,456 $33,672 $38,076 $46,932 Source: The Economic Security Database, Wider Opportunities for Women. Calculation by the Gerontology Institute, University of Massachusetts Boston. Note: For more information on the Elder Index methodology, see The National Elder Economic Security Standard (Boston: The Gerontology Institute, University of Massachusetts Boston, 2012).

5 HOUSING AND MEDICAL EXPENSES ARE THE GREATEST THREATS TO SENIORS ECONOMIC SECURITY Housing and health care costs comprise over 50% of the Elder Index for single elder renters in nearly every New York County. In Suffolk County, the most expensive county for senior renters, rent for a 1-bedroom apartment exceeds 40% of an economic security budget. For seniors paying off mortgages in expensive areas, such as Westchester County, the most expensive area for senior homeowners, housing costs exceed 50% of the Elder Index. Seniors with mortgages spend, on average, at least two and one-third times as much on housing as elders who have paid off their mortgages whether they live in lower-cost areas (Niagara County, Chautauqua County, Seneca County) or higher-cost areas (Westchester County, Kings County/Brooklyn, New York County/Manhattan). Housing costs comprise more than 30% of total Elder Index budgets for homeowners in more than three-quarters of New York counties. Housing costs comprise more than 50% of total Elder Index budgets for homeowners and renters in 20% of New York counties. Typical monthly rents for 1-bedroom apartments vary widely. In counties with the least expensive rents, a typical economically secure senior will still allocate more than 30% of his or her income to rent. In counties with the most expensive rents, a typical economically secure single renter will devote more than 50% of his or her spending to housing. The connection between security and health is as strong as the connection between security and housing. The EEIR for elders who report having difficulty with self-care is 69%, and the EEIR for elders who report having trouble living independently is nearly 68% (Figure 3). Figure 2: New York Statewide Elder Index Expenses for a Single Renter, 2013 Food, 11% Health Care, 17.5% Housing, 48% Elder Index Figure 3: Economic Security and Insecurity Rates of New York Elders Who Have Difficulty Living Independently, by Sex, % 27% 43% Transp., 9.5% Misc., 14% Note: Numbers rounded. 68% 73% 57% All Elders Elder Women Elder Men Source: Author's calculations using US Census Bureau American Community Survey 3-Year PUMS

6 EEIRS ARE MUCH HIGHER FOR SINGLE ELDERS THAN FOR COUPLES Single elders are much more likely to lack economic security than couples: 67% of the state s single elders living alone report household incomes below the Elder Index, compared to 39% of elder couples (Figure 4). Couples benefit somewhat from economies of scale, enabling them to spend less per person on housing, food and transportation costs. Fully-retired elder couples also report median household incomes more than double those of their single counterparts $43,766 versus $18,653 and are more likely to own their homes free and clear. While 48% of New York s retired single elders rent, only 18% of elder couples rent (Figure 5). Sixty-two percent of elder couples studied live in a home that is owned without a mortgage. Elder couples usually include men. Fewer than 1% of US retired senior couples report being samesex, and just 0.09% report being same-sex female couples. Since men typically report higher incomes in retirement, their presence alone reduces the likelihood of a household s economic insecurity. Sixty-two percent of senior men in New York live with a spouse or partner, versus 39% of women. The life expectancy gender disparity is narrowing, but older women continue to outnumber older men. 3 In 2013, women were 60% of those age 65+ in New York, and there were approximately 440,000 more senior women than men in the state. 4 Women s longer lifespans, greater likelihood of living alone, and lower incomes in retirement combine to create a statewide insecurity rate for single senior women of 70% (Figure 4). Elder Index Figure 4: Economic Security and Insecurity Rates of New York Elder Households, by Composition, % 30% 67% 70% All Single Households Single Women Households 42% 58% Single Men Households 61% 39% All Couple Households Source: Author's calculations using US Census Bureau American Community Survey 3-Year PUMS Figure 5: Housing Status of New York Elder Households, % 10% Own w/ Single Elders 40% 62% Own w/o Elder Couples 48% Rent 18% 2% 1% Other Source: Author's calculations using US Census Bureau American Community Survey 3-Year PUMS Note: Housing status among single or couple elder households only. "Other" includes seniors who live independently in homes they do not own and for which they do not pay any rent.

7 EEIRS ARE MUCH HIGHER FOR RENTERS THAN FOR HOMEOWNERS WITH MORTGAGES The EEIR for New York renters is 80% (Figure 6). Those who own their homes outright are much less likely to lack economic security than are renters; the EEIR for New York homeowners without mortgages is 41%. Elder homeowners with mortgages require the highest incomes to be economically secure a statewide (weighted) average of $9,100 more per year than those who own their homes outright. However, elders in this group also report the highest median income of any housing status, and the EEIR of New York homeowners with mortgages, 54%, is much lower than the EEIR for renters. Senior renters are particularly vulnerable to shifting costs in their communities. Housing costs can change dramatically over short periods of time. When local prices and rents increase, local wages may increase accordingly, but retired adults living on fixed incomes can find themselves quickly priced out of local rental markets. EEIRS ARE MUCH HIGHER FOR SENIORS OF COLOR THAN FOR WHITE SENIORS While Elder Economic Insecurity Rates (EEIRs) are high among seniors of all races and ethnicities, rates for retired seniors of color are particularly high. Among retired elder households, 86% of Hispanic-headed households, 81% of Asianheaded households, and 60% of African- American-headed households lack incomes that allow basic economic security (Figure 7). 5 The nation s retired African-American and Hispanic seniors report typical annual incomes lower than white elders incomes by several thousand dollars. 6 Racial disparities in retirement income reflect the fact that, prior to retirement, Elder Index Figure 6: Economic Security and Insecurity Rates of New York Elder Households, by Housing Status, % 46% 59% Elder Index Figure 7: Economic Security and Insecurity Rates of New York Elder Households, by Race/Ethnicity, % 40% 19% 14% 80% 54% Rent Own w/ 41% Own w/o Source: Author's calculations using US Census Bureau American Community Survey 3-Year PUMS 52% 60% White African- American 81% 86% Asian Hispanic Source: Author's calculations using US Census Bureau American Community Survey 3-Year PUMS Note: African American and Asian EEIRs are based on small sample sizes that create large potential margins of error.

8 men and women of color earn lower median wages than white workers. 7 They also are more likely to work in jobs that do not offer retirement plans. 8 As a result, at retirement, seniors of color tend to have accumulated less retirement savings. 9 In addition, these seniors rely more heavily than white seniors on Social Security as a source of income, but have on average annual Social Security payments several thousand dollars lower than white seniors payments. Seniors of color may also face higher expenses, as they are more likely to be renters. EEIRS ARE HIGHER FOR WOMEN THAN FOR MEN Women are especially vulnerable to economic insecurity. Fifty-eight percent of New York senior women lack economic security incomes, versus 46% of senior men (Figure 8). During their working-age years, women are more likely to earn less than their male counterparts, which often leads to less savings and smaller pensions and Social Security benefits. 10 Senior women are also more likely to live without a spouse or partner than senior men are, and New York senior women are 25% more likely than men to be renters. THE EFFECTS OF OCCUPATIONAL SEGREGATION DURING WOMEN S WORKING YEARS PERVADE RETIREMENT In 2013, New York retired elder men in senioronly households reported median annual income 65% higher than retired elder women s median income ($25,315 versus $15,292). Occupational segregation, pay inequity and caregiving responsibilities all contribute to employed women s reduced earnings during their workingage years, and to diminished capacity for saving. Further, these factors contribute to both a reduced likelihood of retirement account or pension income and lower Social Security payments in retirement. Elder Index Figure 8: Economic Security and Insecurity Rates of New York Elder Households, by Sex, % 54% 42% The gender disparity in retirement income means women are more reliant on Social Security. Among those living in elder-only households, Social Security payments constitute 67% of New York retired women s average income. 11 Even though older women rely on Social Security for the bulk of their incomes, median payments for women lag behind men s by more than $4,100 per year. 54% 46% 58% All Elders Elder Men Elder Women Source: Author's calculations using US Census Bureau American Community Survey 3-Year PUMS 6

9 EEIRS VARY WIDELY COUNTY-TO-COUNTY Bronx County and Kings County (Brooklyn) have the highest overall EEIRs in New York, 77%, while Seneca County has the lowest EEIR, 39%. Figure 9 shows the percentage of insecure elder households in counties with high, low and median EEIRs. In New York, more expensive counties tend to have higher EEIRs, but are not necessarily the counties with the highest insecurity rates because senior incomes in those counties may also be relatively high. For example, Putnam and Tompkins Counties are among the most expensive New York counties, but have two of the states lower insecurity rates. Seneca and Saratoga Counties Elder Index values are close to the state median, but the counties have two of the state s lowest EEIRs. HOUSEHOLD COMPOSITION IN THE COUNTIES Single elder insecurity rates range from 46% in Schenectady County to 82% in Kings County (Brooklyn). Single seniors struggle most in Kings County, Bronx County (81%), Orange County (69%) and Westchester County (69%) (Appendix D). The EEIR for elder couples is highest in Kings County (62%). Elder couples are least insecure in Erie County (22%), Albany and Tompkins County (24%), and Putnam, Senca, Warren and Washington County (25%) (Appendix E). The EEIR for women is higher than the EEIR for men in every New York county. Albany, Putnam and Rensselaer Counties have the widest disparity between the insecurity rates of women and men, at 17 percentage points (Figure 10). Yates County and Lewis County have the smallest gender disparities, at 4 percentage points. Figure 9: Economic Insecurity Rates of New York Elder Households, by Selected County, 2013 Figure 10: Economic Insecurity Rates of New York Elders, by Selected County and Sex, 2013 Men Women Bronx (High) Kings/Brooklyn Queens NY (State) Washington Warren (Median) Albany Herkimer Schenectady Seneca (Low) 43% 41% 40% 39% 47% 47% 58% 64% 77% 77% Source: Author's calculations using US Census Bureau American Community Survey 3-Year PUMS Kings/Brooklyn Bronx Queens NY (State) Delaware Rensselaer Albany Herkimer Schenectady Seneca 67% 78% 68% 77% 55% 66% 46% 58% 36% 47% 30% 47% 28% 45% 33% 40% 30% 41% 31% 39% Source: Author's calculations using US Census Bureau American Community Survey 3-Year PUMS 7

10 CONCLUSION Every day, 500 New Yorkers turn 65, and by 2030, older New Yorkers will comprise 25% of the state s population. 12 As a result, the Elder Economic Insecurity Rate has grave implications. Financial insecurity pervades each of the senior subgroups studied in this report, with large percentages of New York s retired, independent elders lacking the incomes required for a modest lifestyle that insulates them against poverty. Their fixed incomes often do not keep pace with inflation, property taxes, rent, food, and the skyrocketing cost of prescription drugs and healthcare. Such seniors are likely to need currently or in the future public health, housing or other assistance, and state and local governments must be prepared to fill gaps and help New York seniors age in their homes and continue to contribute to their families and communities. Yet, older New Yorkers who are not officially poor often do not qualify for programs designed to keep seniors living with dignity in their communities. These individuals may founder without the social safety net to which their taxes contributed. The Longevity Report recently released by the International Longevity Center-Global Alliance points to the fact that elders will live an average of 30 years past their retirement, and most of those years in good health. 13 While some would like to return to the labor force and contribute their talents because they wish to remain vital members of society, there are many seniors who will do so out of necessity, and the New York public, public policy and labor markets must be prepared to welcome and assist elders who remain in or return to the workforce. There is a vital need to optimize opportunities for the state s expanding and increasingly healthy senior population to engage more fully in cultural, civic, and social affairs as well as employment, education, and volunteerism. Parallel to this need is the need to protect vulnerable seniors. New York State and the federal government must assume a proactive role to implement a fully inclusive life course approach to active aging that ensures universal economic security. THE NY STATE OFFICE FOR THE AGING (NYSOFA) New York leads the nation as one of the first states to establish an Office for the Aging. Since 1965, the NY State Office for the Aging (NYSOFA) has served as the Governor's recognizable advocate for aging with a mission to help older persons remain independent for as long as possible. The agency helps guide policy development to improve the quality of life of older New Yorkers and oversees the implementation of programs funded through the Older Americans Act and New York State Elder Law. The Office also oversees services provided locally through a network of 59 local offices for the aging and hundreds of community-based providers. The role of the State Office for the Aging is defined through the Older Americans Act (now celebrating its 50th anniversary) and New York State Elder Law (36 years old). These guiding policy platforms have led to the development of 8

11 an organic community-based network for aging services based on community plans and needs assessments and grounded in consumer involvement. population through Community Services for the Elderly (CSE) and the Congregate Services Initiative (CSI), which are contained in the New York State Elder Law. The aging services network has provided older New Yorkers with a window into local, state, and federal government and provided a visible and vocal advocate for persons age 60 and over. It established a systems development role for aging beyond the requirements of the Older Americans Act, and the state s Area Agencies on Aging develop local plans to identify services gaps and systems problems. New York State was a national leader in expanding non-medical services for the non-medicaid These programs were designed and implemented with the understanding and the promise that all members of society are valued and deserve to live in a humane and dignified manner. The seniors who contributed to the nation s prosperity should be cared for and not discarded during their golden years. Now is the time to update and strengthen the programs that were so wisely instituted 80 years ago (Social Security) and 50 years ago (Medicare and the Older Americans Act). 9

12 Appendix A: Annual Elder Economic Security Indexes for New York, 2014 The Elder Economic Security Standard Index, New York, 2014 Elder Person Elder Couple Jurisdiction Owner w/o Renter Owner w/ Owner w/o Renter Owner w/ New York State $23,196 $27,600 $36,456 $33,672 $38,076 $46,932 Albany County $20,748 $23,628 $30,612 $31,620 $34,500 $41,484 Allegany County $18,696 $20,784 $24,768 $29,076 $31,164 $35,148 Bronx County $20,892 $29,064 $38,028 $30,576 $38,748 $47,712 Broome County $18,948 $21,048 $24,720 $29,136 $31,236 $34,908 Cattaraugus County $17,904 $20,076 $23,976 $27,492 $29,664 $33,564 Cayuga County $22,236 $23,940 $27,660 $34,944 $36,648 $40,368 Chautauqua County $18,960 $20,712 $24,528 $28,968 $30,720 $34,536 Chemung County $19,104 $21,840 $24,684 $29,424 $32,160 $35,004 Chenango County $19,464 $21,036 $26,076 $29,796 $31,368 $36,408 Clinton County $21,300 $24,276 $27,972 $34,008 $36,984 $40,680 Columbia County $21,240 $23,640 $33,240 $32,112 $34,512 $44,112 Cortland County $21,864 $23,964 $28,476 $34,572 $36,672 $41,184 Delaware County $21,288 $23,412 $28,392 $33,996 $36,120 $41,100 Dutchess County $25,692 $28,596 $37,128 $38,388 $41,292 $49,824 Erie County $19,356 $20,868 $25,884 $29,316 $30,828 $35,844 Essex County $21,300 $23,784 $27,972 $34,008 $36,492 $40,680 Franklin County $21,300 $23,112 $27,972 $34,008 $35,820 $40,680 Fulton County $19,812 $21,300 $25,128 $30,288 $31,776 $35,604 Genesee County $19,428 $22,140 $25,596 $29,676 $32,388 $35,844 Greene County $21,240 $22,836 $33,240 $32,112 $33,708 $44,112 Hamilton County $21,300 $23,844 $27,972 $34,008 $36,552 $40,680 Herkimer County $19,272 $21,480 $26,304 $29,604 $31,812 $36,636 Jefferson County $21,324 $24,108 $30,324 $34,044 $36,828 $43,044 Kings County $21,816 $28,800 $37,848 $30,984 $37,968 $47,016 Lewis County $19,164 $21,084 $28,164 $29,724 $31,644 $38,724 Livingston County $20,244 $22,476 $28,092 $31,164 $33,396 $39,012 Madison County $19,824 $21,720 $28,260 $30,144 $32,040 $38,580 Monroe County $21,000 $22,608 $29,028 $31,908 $33,516 $39,936 Montgomery County $19,944 $21,744 $25,260 $30,540 $32,340 $35,856 Nassau County $27,948 $31,980 $43,116 $37,500 $41,532 $52,668 New York County $24,216 $29,640 $47,688 $33,924 $39,348 $57,396 Niagara County $18,696 $20,292 $25,596 $28,092 $29,688 $34,992 Oneida County $19,464 $21,504 $25,836 $29,808 $31,848 $36,180 Onondaga County $19,956 $21,936 $27,672 $30,504 $32,484 $38,220 Ontario County $20,712 $22,560 $30,852 $31,620 $33,468 $41,760 Orange County $25,584 $28,572 $37,644 $38,292 $41,280 $50,352 Orleans County $19,284 $21,756 $25,452 $29,520 $31,992 $35,688 Oswego County $19,752 $21,756 $27,276 $30,120 $32,124 $37,644 Otsego County $21,288 $23,832 $28,392 $33,996 $36,540 $41,100 10

13 The Elder Economic Security Standard Index, New York, 2014 (Continued) Elder Person Elder Couple Jurisdiction Owner w/o Renter Owner w/ Owner w/o Renter Owner w/ Putnam County $28,632 $32,616 $44,592 $41,016 $45,000 $56,976 Queens County $21,612 $28,800 $38,076 $30,828 $38,016 $47,292 Rensselaer County $21,336 $23,724 $29,604 $32,208 $34,596 $40,476 Richmond County $21,324 $28,704 $33,876 $30,480 $37,860 $43,032 Rockland County $29,712 $32,796 $43,464 $42,096 $45,180 $55,848 St. Lawrence County $21,072 $23,196 $28,224 $33,780 $35,904 $40,932 Saratoga County $20,592 $23,604 $31,212 $31,464 $34,476 $42,084 Schenectady County $21,432 $23,772 $31,416 $32,328 $34,668 $42,312 Schoharie County $21,264 $25,236 $28,368 $33,972 $37,944 $41,076 Schuyler County $21,516 $23,940 $27,096 $34,224 $36,648 $39,804 Seneca County $21,768 $23,004 $29,640 $32,772 $34,008 $40,644 Steuben County $19,152 $21,336 $25,584 $29,472 $31,656 $35,904 Suffolk County $28,944 $34,512 $42,660 $41,328 $46,896 $55,044 Sullivan County $24,396 $25,308 $35,700 $37,104 $38,016 $48,408 Tioga County $19,380 $21,252 $25,428 $29,724 $31,596 $35,772 Tompkins County $23,472 $26,544 $31,344 $36,168 $39,240 $44,040 Ulster County $24,996 $27,012 $37,164 $37,704 $39,720 $49,872 Warren County $20,172 $22,344 $29,424 $30,864 $33,036 $40,116 Washington County $20,172 $22,344 $29,424 $30,864 $33,036 $40,116 Wayne County $20,760 $22,560 $29,700 $31,680 $33,480 $40,620 Westchester County $31,320 $34,092 $47,376 $43,704 $46,476 $59,760 Wyoming County $19,716 $21,336 $27,564 $29,964 $31,584 $37,812 Yates County $19,824 $22,080 $26,256 $30,828 $33,084 $37,260 Minimum $17,904 $20,076 $23,976 $27,492 $29,664 $33,564 Maximum $31,320 $34,512 $47,688 $43,704 $46,896 $59,760 Median $21,036 $23,154 $28,380 $31,620 $34,488 $40,662 11

14 Appendix B: Economic Insecurity Rates of New York Elders, 2013 Insecurity Rate Households All Elder Households 58% All Single Elder Households 67% Single Elder Women Households 70% Single Elder Men Households 58% All Elder Couple Households 39% Elder White Households 52% Elder Asian Households 81% Elder Hispanic Households 86% Elder Households without a 41% Elder Rented Households 80% Elder Households with a 54% Individuals Elder Men 46% Elder Women 58% All Elders Who Have Self Care Difficulty 69% Elder Women Who Have Self Care Difficulty 74% Elder Men Who Have Self Care Difficulty 59% All Elders Who Have Difficulty Living Independently 68% Elder Women Who Have Difficulty Living Independently 73% Elder Men Who Have Difficulty Living Independently 57% Source: Author's calculations using US Census Bureau American Community Survey 3-Year PUMS Note: An EEIR for African Americans is not included due to small sample size and large margins of error. 12

15 Appendix C: Economic Insecurity Rates of New York Elder Households, by County, 2013 Insecurity Rate Insecurity Rate All Elder Households All Elder Households Albany County 43% Putnam County 42% Allegany County 52% Queens County 64% Bronx County 77% Rensselaer County 44% Broome County 44% Richmond County 52% Cattaraugus County 49% Rockland County 53% Cayuga County 51% Saratoga County 41% Chautauqua County 49% Schenectady County 40% Chemung County 45% Schoharie County 47% Chenango County 41% Schuyler County 53% Clinton County 52% Seneca County 39% Columbia County 44% St. Lawrence County 50% Cortland County 56% Steuben County 44% Delaware County 46% Suffolk County 56% Dutchess County 50% Sullivan County 54% Erie County 45% Tioga County 43% Essex County 52% Tompkins County 43% Franklin County 51% Ulster County 60% Fulton County 44% Warren County 47% Genesee County 43% Washington County 47% Greene County 43% Wayne County 42% Hamilton County 52% Westchester County 59% Herkimer County 41% Wyoming County 47% Jefferson County 57% Yates County 44% Kings County 77% Lewis County 48% Livingston County 48% Madison County 44% Monroe County 45% Montgomery County 45% Nassau County 52% New York County 64% Niagara County 46% Oneida County 46% Onondaga County 48% Ontario County 42% Orange County 58% Orleans County 43% Oswego County 42% Otsego County 47% Source: Author's calculations using US Census Bureau American Community Survey 3-Year PUMS 13

16 Appendix D: Economic Insecurity Rates of New York Single Elder Households, by County, 2013 Single Elder Households Insecurity Rate Appendix E: Economic Insecurity Rates of New York Elder Couple Households, by County, 2013 Elder Couple Households Insecurity Rate Albany County 51% Albany County 24% Allegany County 60% Allegany County 36% Bronx County 81% Bronx County 57% Broome County 52% Broome County 30% Cattaraugus County 58% Cattaraugus County 30% Cayuga County 61% Cayuga County 34% Chautauqua County 58% Chautauqua County 37% Chemung County 55% Chemung County 27% Chenango County 46% Chenango County 32% Clinton County 63% Clinton County 33% Columbia County 56% Columbia County 27% Cortland County 59% Cortland County 49% Delaware County 53% Delaware County 34% Dutchess County 58% Dutchess County 35% Erie County 55% Erie County 22% Essex County 63% Essex County 33% Franklin County 61% Franklin County 33% Fulton County 53% Fulton County 29% Genesee County 55% Genesee County 27% Greene County 54% Greene County 27% Hamilton County 63% Hamilton County 33% Herkimer County 48% Herkimer County 29% Jefferson County 67% Jefferson County 41% Kings County 82% Kings County 62% Lewis County 55% Lewis County 36% Livingston County 58% Livingston County 33% Madison County 53% Madison County 28% Monroe County 55% Monroe County 26% Montgomery County 54% Montgomery County 29% Nassau County 60% Nassau County 36% New York County 67% New York County 47% Niagara County 53% Niagara County 31% Oneida County 54% Oneida County 28% Onondaga County 55% Onondaga County 33% Ontario County 50% Ontario County 32% Orange County 69% Orange County 36% Orleans County 55% Orleans County 27% Oswego County 51% Oswego County 28% Otsego County 55% Otsego County 34% 14

17 Putnam County 55% Putnam County 25% Queens County 69% Queens County 53% Rensselaer County 54% Rensselaer County 28% Richmond County 60% Richmond County 33% Rockland County 60% Rockland County 42% Saratoga County 51% Saratoga County 27% Schenectady County 46% Schenectady County 27% Schoharie County 55% Schoharie County 34% Schuyler County 64% Schuyler County 35% Seneca County 49% Seneca County 25% St. Lawrence County 57% St. Lawrence County 38% Steuben County 55% Steuben County 28% Suffolk County 65% Suffolk County 40% Sullivan County 64% Sullivan County 38% Tioga County 50% Tioga County 32% Tompkins County 54% Tompkins County 24% Ulster County 68% Ulster County 42% Warren County 60% Warren County 25% Washington County 60% Washington County 25% Wayne County 47% Wayne County 33% Westchester County 69% Westchester County 37% Wyoming County 57% Wyoming County 32% Yates County 50% Yates County 34% Source: Author's calculations using US Census Bureau American Community Survey 3-Year PUMS Source: Author's calculations using US Census Bureau American Community Survey 3-Year PUMS 15

18 Appendix F: Economic Insecurity Rates of New York Single Elder Men, by County, 2013 Insecurity Rate Appendix G: Economic Insecurity Rates of New York Single Elder Women, by County, 2013 Insecurity Rate Single Elder Men Single Elder Women Albany County 34% Albany County 58% Allegany County 55% Allegany County 62% Bronx County 76% Bronx County 83% Broome County 36% Broome County 58% Cattaraugus County 54% Cattaraugus County 60% Cayuga County 48% Cayuga County 66% Chautauqua County 45% Chautauqua County 62% Chemung County 41% Chemung County 61% Chenango County 32% Chenango County 54% Clinton County 49% Clinton County 70% Columbia County 53% Columbia County 57% Cortland County 51% Cortland County 63% Delaware County 42% Delaware County 59% Dutchess County 50% Dutchess County 61% Erie County 45% Erie County 59% Essex County 49% Essex County 69% Franklin County 49% Franklin County 67% Fulton County 48% Fulton County 55% Genesee County 45% Genesee County 59% Greene County 53% Greene County 55% Hamilton County 49% Hamilton County 69% Herkimer County 42% Herkimer County 50% Jefferson County 62% Jefferson County 68% Kings County 74% Kings County 84% Lewis County 55% Lewis County 55% Livingston County 53% Livingston County 59% Madison County 42% Madison County 58% Monroe County 41% Monroe County 60% Montgomery County 48% Montgomery County 56% Nassau County 41% Nassau County 66% New York County 65% New York County 68% Niagara County 40% Niagara County 57% Oneida County 49% Oneida County 57% Onondaga County 48% Onondaga County 57% Ontario County 43% Ontario County 53% Orange County 57% Orange County 74% Orleans County 45% Orleans County 59% Oswego County 42% Oswego County 55% Otsego County 40% Otsego County 61% Putnam County 36% Putnam County 62% Queens County 59% Queens County 73% Rensselaer County 33% Rensselaer County 64% Richmond County 48% Richmond County 64% 16

19 Rockland County 52% Rockland County 62% Saratoga County 46% Saratoga County 52% Schenectady County 37% Schenectady County 49% Schoharie County 39% Schoharie County 61% Schuyler County 52% Schuyler County 69% Seneca County 44% Seneca County 51% St. Lawrence County 50% St. Lawrence County 60% Steuben County 50% Steuben County 57% Suffolk County 53% Suffolk County 69% Sullivan County 52% Sullivan County 71% Tioga County 26% Tioga County 59% Tompkins County 52% Tompkins County 55% Ulster County 60% Ulster County 72% Warren County 52% Warren County 64% Washington County 52% Washington County 64% Wayne County 42% Wayne County 49% Westchester County 60% Westchester County 73% Wyoming County 52% Wyoming County 59% Yates County 48% Yates County 51% Source: Author's calculations using US Census Bureau American Community Survey 3-Year PUMS Source: Author's calculations using US Census Bureau American Community Survey 3-Year PUMS 17

20 METHODOLOGY This brief compares annual incomes required for basic economic security, as defined by the Elder Index, to American Community Survey 3-Year PUMS data. The study sample is limited to households for which Elder Index values are calculated households composed of either a single adult age 65 or older or an elder couple where both adults are age 65 or older. All adults are fully retired (reporting zero earnings and no work in the past year). The incomes of individuals living in homes they do not own and for which they do not pay rent are compared to the statewide New York Elder Index value for renters. When elders incomes are compared to Elder Index values, payments from cash-equivalent public assistance programs and Supplemental Security Income (SSI) are excluded from elder incomes Elder-only households include those composed of single adults age 65 and older who live alone, and elder couples who reside alone, with no additional family members or unrelated individuals. Older adults who live in group quarters, including institutional settings, and those who reside with other family members or unrelated roommates are not included in this analysis, as it is not possible to determine an economic security budget or who within a household pays for expenses. All calculations, tables and figures in this report are for retried senior individuals or retired elderonly housholds unless otherwise noted. 2 Basic economic security is defined as having enough income to meet basic needs without public or private assistance. For more information on the Elder Index methodology, see The National Elder Economic Security Standard Index. While public supports, particularly food support programs and energy assistance, are critical to helping many elders address the gap between income and economic security needs, elders who depend on public assistance programs are not considered secure. 3 Vincent, Grayson K. and Victoria A. Velkhoff. The Next Four Decades: The Older Population in the United States: 2010 to Washington, DC: US Census Bureau, Government Printing Office, US Census Bureau. American Community Survey, 2013 American Community Survey 1-Year Estimates, Table S0103; using American FactFinder. (22 February 2014). 5 The group Hispanic includes those self-identifying as Hispanic, Latino or Spanish on the US Census Bureau s American Community Survey. 6 Wider Opportunities for Women. Living Below the Line: Economic Insecurity and Older Americans. No. 3: Race/Ethnicity. Washington, DC: Wider Opportunities for Women, DeNavas-Walt, Carmen and Bernadette D. Proctor. Income and Poverty in the United States: Washington, DC: US Department of Commerce, Copeland, Craig. Employment-Based Retirement Plan Participation: Geographic Differences and Trends, Washington, DC: Employee Benefit Research Institute, Advisory Council on Employee Welfare and Pension Benefit Plans. Disparities for Women and Minorities in Retirement Savings. Washington, DC: US Department of Labor, US Government Accountability Office. Retirement Security: Women Still Face Challenges. Washington, DC: Government Accountability Office, These calculations determine Social Security as a percentage of total personal income, not total household income, and refer specifically to the population studied in the brief. 12 AARP. State of the 50+ in New York State. Washington, DC: AARP, International Longevity Centre Brazil. Active Ageing: A Policy Framework in Response to the Longevity Revolution. Rio de Janeiro: International Longevity Centre Brazil, Nationally, approximately 1% of households studied received income from a public (cash) assistance program (not including Social Security, Social Security Disability Insurance or Supplemental Security Income). Approximately 4% of households studied received income from Supplemental Security Income. 18

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